Replacing a good with a similar good because of a change in prices is an example of the .

Answer : substitution effect

In economics, substitution effect refers to the process of replacing a good with a similar good because of a change in the price. This is based on the assumption that as prices change or increase, consumers would decide to look for cheaper items or the low-cost alternatives thus resulting to  the change of merchandise or the products. The substitution effect may give an advantage especially to retailers however, in the general picture it provides a disadvantage as it will limit the choices.